FanDuel Predicts coming to the US in December
On Wednesday, FanDuel and CME Group announced the launch of the FanDuel Predicts mobile app that will give users access to sports event contracts for baseball, hockey, basketball, and football. FanDuel is one of Ontario’s regulated betting sites and also provides a betting site for the US. FanDuel plans to offer FanDuel Predicts in December for customers in the US. “Our new event contracts on benchmarks, economic indicators and now sports will appeal to a new generation of potential participants who are not active in these markets today,” said Terry Duffy, CME Group chief executive officer. “This launch will dramatically expand our distribution and reach, connecting directly with FanDuel’s millions of registered US users.” Betting apps are popular, and now one of the betting sites is giving users throughout the US another option.
The app will have event contracts for benchmarks such as the S&P 500 and Nasdaq-100, cryptocurrencies, prices of oil and gas, gold, and more. Contracts range in price from as little as $0.01 to $0.99. “We can’t wait to bring FanDuel's proven approach to product innovation into this dynamic sector," said Amy Howe, FanDuel chief executive officer. "Our partnership with CME Group allows us to leverage their deep market expertise built over decades while delivering the seamless, accessible and trusted experience our customers expect."
More details
FanDuel picks will be accessible to people who are in states where online sports betting is not yet legal. Customers will be able to trade sports event contracts if they are not on tribal lands, according to FanDuel. FanDuel plans to cease offering sports event contracts in states that legalize online sports betting in the future.
FanDuel Predicts will be launched with some consumer protections. The app will be launched with tools to help manage exposure, track spending, and make informed trading decisions. FanDuel will provide educational resources for learning about prediction markets and how to buy and sell event contracts on the app. And users will have the ability to set deposit limits and deposit alerts for all FanDuel products. Users will also have the option to self-exclude.
About FanDuel and CME Group
FanDuel offers a regulated betting site in Ontario and a betting site in the US that features a sportsbook and casino. FanDuel’s sportsbook and casino can also be accessed through its betting app. FanDuel has over 374,000 followers on X/Twitter and over 238,000 followers on Instagram.
FanDuel and CME Group plan to use their partnership to create a platform that bridges entertainment and financial markets. CME Group is a derivatives marketplace that gives users the ability to trade futures, options, and more.
